GPH lspat approves 10pc cash dividend

OUR CORRESPONDENT | Published: December 13, 2024 00:02:57

CHATTOGRAM, Dec 12: The 18th Annual General Meeting (AGM) of GPH lspat Limited was held virtually on Thursday. The AGM approved 10% cash dividend for the shareholders.
The AGM was presided over by Md. Alamgir Kabir, Chairman of the GPH lspat Limited. Attendees included Group Chairman and Managing Director Mohammed Jahangir Alam, Additional Managing Director Mohammed Almas Shimul, Directors Mohammad Ashrafuzzaman and Md. Abdul Ahad, Independent Directors Safiul Alam Khan Chowdhury and Mukhtar Ahmed, Director (Group) Ms. Sadman Syka Sefa, Director (Strategy & Transformation) Salehin Musfique Sadaf, Group Chief Executive Officer Md. Mukter Hossain Talukder FCA, Executive Director (Finance and Business Development) Kamrul Islam FCA, Chief Financial Officer Abu Bakar Siddique FCMA, Group Chief Financial Officer H.M. Ashraf-uz-zaman FCA, and other senior officials of the company. A large number of shareholders, bankers, and stakeholders also participated in the meeting virtually, which was moderated by Company Secretary Md. Mosharof Hossain.
During the AGM, the financial report for the year ended on June 30, 2024, along with the corresponding audit report and the Board of Directors' report, was unanimously approved. The shareholders also approved a 10% cash dividend for the financial year 2023-2024 for ordinary shareholders. Additionally, proposals to increase the authorized capital of the company from Tk 1,000 crore to Tk 1,500 crore and to issue non-convertible, cumulative, redeemable, and non-participative preference shares worth up to Tk 500 crore to refinance existing debts were also approved.